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There has been a territorial dispute in South America since the end of the 19th century, but it is now coming to a boiling point, because Venezuela is determined to reclaim a territory. The region in question is known as Essequibo, covers 62,000 square miles and is located precisely west of the Essequibo River. The area has been controlled and administered by Guyana for many years. Its official language is English and its population is estimated at 125,000 inhabitants. However, the Venezuelan government in late September announced a referendum to ask Venezuelans basically whether they support the annexation of Essequibo as part of Venezuelan territory and whether they agree to grant Venezuelan citizenship to the inhabitants there. For its part, the Government of Guyana denounced the referendum as a threat to its territorial sovereignty and in a visit to the region at the end of October, the President of Guyana assured that the country will not cede even an inch of territory. He also stated the following: "Let no one make a single mistake, the Essequibo is ours, every square inch." In addition, he requested to the International Court of Justice to suspend the referendum promoted by Venezuela. In response to this, last December 1, The International Court of Justice urged Caracas to “refrain” from taking any action that would “modify” the situation in the territory west of the Essequibo River disputed with Guyana, and told both parties to refrain from taking any action that could make the issue “more difficult to resolve." But despite the warning, Venezuela did end up holding the referendum on Sunday December 3 2023, just as the Venezuelan president had warned days before. And as expected, the result was overwhelming. According to the official results, 95% of the voters support the annexation of this disputed territory as part of Venezuela. So the questions are: how did this territorial dispute begin? Why, after so many years, is Venezuela bringing up the issue again right at this time? And, what can be expected after knowing the results of the referendum?
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#economicsnation #venezuela #guyana